Financial Action Task Force & FATF-Style Regional Bodies

Financial Action Task Force on Money Laundering (FATF)

The first co-operative and global policy response to the threats posed by money laundering was by the G7 group of countries which established the FATF in 1989.  The FATF, like the APG, is an inter-governmental body whose objectives include setting standards to combat money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction (AML/CFT), and supporting the implementation of these standards.

The FATF meets three times a year in plenary and once a year at an annual typologies workshop. The FATF also meets out-of-session for a variety of purposes including private sector consultation meetings. During its plenary sessions, the FATF considers mutual evaluation reports, policy and governance matters. Notices of those meetings are placed on the APG website before the meetings commence and APG delegates are encouraged to attend. The APG usually has a large delegation of individual delegates for each FATF plenary meeting.  Those delegates are provided with access to FATF documents and may comment prior to and during those meetings on any matter.

The APG is an associate member of the FATF and the FATF and other FSRBs have special observer status in the APG.